Thomson Reuters ONESOURCE Reviews & Product Details


What is Thomson Reuters ONESOURCE?

Thomson Reuters ONESOURCE Indirect Tax Sales & Use Tax Compliance solution has the power and flexibility to streamline the tax return process. The end-to-end, Web-based solution empowers users with complete control. The outcome: improved efficiency, reduced costs and eliminated software maintenance.

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Thomson Reuters ONESOURCE Profile Details

Thomson Reuters ONESOURCE Profile Details

Vendor
Thomson Reuters
Description
We are the leading source of intelligent information for the world’s businesses and professionals, providing customers with competitive advantage.
Company Website
Year Founded
2008
Total Revenue (USD mm)
11,166
HQ Location
Toronto, ON
Ownership
NYSE: TRI
LinkedIn® Page
www.linkedin.com
Employees on LinkedIn®
56,759
Twitter
@thomsonreuters
Twitter Followers
152,927
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Companies Using Thomson Reuters ONESOURCE

AppNexus
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Thomson Reuters ONESOURCE Reviews

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1-15 of 15 total Thomson Reuters ONESOURCE reviews

Thomson Reuters ONESOURCE Reviews

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1-15 of 15 total Thomson Reuters ONESOURCE reviews
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Enterprise architect
Enterprise
(1001-5000 employees)
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"Great data with reasonable API capabilities"

What do you like best?

Most accurate and up to dated tax rate data, updated and maintained accurately. My last company using Thomson Reuters ONESOURCE data to support tax calculation in global (north America) sales and indirect Tax. ONESOURCE provides most reliable tax rate data at granular level (zip code) and provides periodic updates. This is very important and critical from accurate tax calculation and compliance perspective. In early days, ONESOURCE implementation was a nightmare. Due to the lack of APIs and Web services, we had ONESOURCE data file downloaded and loaded into our CRM and then used homegrown services to support sales applications. In 2016, we replaced that process once ONESOURCE provided effective APIs in their cloud based tax automation initiatives. APIs are pretty good, reasonably fast and provides necessary information to your sales applications (mobile, e-com) for tax calculation. We were able to seamlessly integrate ONESOURCE with our Mobile, e-com with little effort.

Pretty good reporting, easy to schedule and download report in different format like CSV, Crystal report and Pdf

What do you dislike?

SOAP based web services are bulky and less efficient. Though response time is reasonable but could be much faster. I like the data, accuracy of data. updates but their technology investment is a big question. While integration with SAP systems was fairly reasonable, ability to integrate with custom CRM system is nightmare.

Recommendations to others considering the product:

Pros: best and accurate tax (sales and indirect) data with regular update.

Cons: Bulky SOAP based web services and little hard to implement with custom CRM

What problems are you solving with the product? What benefits have you realized?

Sales tax and Indirect Tax calculation for north America region. Must be accurate and compliant with local regulations.

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C
Enterprise
(10,001+ employees)
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Business partner of the vendor or vendor's competitor, not included in G2 scores.

"Works Good if not the best"

What do you like best?

The best thing what I like about this product is that this is fully integrated with the native SAP application. The results of any tax impacts at the Order level or billing level is quick and no need to wait. Moreover this has done away with the tax jurisdiction code which I believe was not a very good solution from maintenance perspective.

What do you dislike?

It's not working to meet all the typical business requirements especially for the contract cases where there are material as well as service component. Also would like to have their reporting module beefed up with more reports and some EWS.

Recommendations to others considering the product:

This is a well integrated package when used with SAP. I would suggest you to have clearly defined business requirements before you engage the consultants to implement the OneSource otherwise it will fall short of the expectations.

What problems are you solving with the product? What benefits have you realized?

we do all our tax computations as well as reporting (to a minor extent) thru Onesource

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UA
Enterprise
(5001-10,000 employees)
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"ONESOURCE is very user friendly!"

What do you like best?

I was recently a first time user of ONESOURCE a few months ago. I have used multiple other programs like Prosystem Fx Tax and CorpTax, but both have a distinctive learning curve to them. The immediate integration of the working trial balance within ONESOURCE Income Tax has been greatly beneficial. It allows the end user to easily find errors and fix problems with ease.

What do you dislike?

ONESOURCE can sometimes be slow or it often will shut down for random reasons. This can be frustrating at times when trying to finish a task, as it requires a restart of the software.

Recommendations to others considering the product:

ONESOURCE is a great product when you have clients with multiple localities and a larger corporate structure.

What problems are you solving with the product? What benefits have you realized?

Our team is capable of providing income tax returns on a timely basis through ONESOURCE. With larger engagements, we can have multiple team members working on the same project at the same time, which can not be said for many other pieces of tax software.

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UA
Mid-Market
(201-500 employees)
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"Streamline and automate accounting tasks"

What do you like best?

Thompson Reuters ONESOURCE aids in streamlining workflow, connecting departments internally, and automating processes which would otherwise be manually processed and time consuming. Thompson Reuters ONESOURCE provides a user friendly platoform for performing all tasks associated with tax and general accounting. Thompson Reuters ONESOURCE increases accuracy and boosts efficiency overall and is a great application.

What do you dislike?

I have not found anything I majorly dislike about Thompson Reuters ONESOURCE, but I am not the most seasoned user.

Recommendations to others considering the product:

Test out all feautures and get experiences with this great software

What problems are you solving with the product? What benefits have you realized?

Going back to what I've said before, Thompson Reuters ONESOURCE aids in streamlining workflow, connecting departments internally, and automating processes which would otherwise be manually processed and time consuming. This provides a huge benefits within a department by cutting costs, saving time, and increasing productivity.

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Owner Dorsey Trans
Transportation/Trucking/Railroad
Small-Business
(2-10 employees)
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"One source"

What do you like best?

Audit ready processes help me trust that we will be preparedo if there is an audit. We are able to cut out manuallly managing important audit documents and files because everything is so streamlined.

What do you dislike?

It is focused more on global enterprise, therefore, it really would be better to use if you have a midsize or larger company.

What problems are you solving with the product? What benefits have you realized?

A central location for the documents. It is time saving and truly is streamlined .

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AF
Enterprise
(5001-10,000 employees)
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"It's a big suite of products"

What do you like best?

I've been using Onesource income tax for about 15 years and have seen it grow and change, mostly for the better. I'm very comfortable using it and feel like I know a bunch of the little tricks to make things easier.

What do you dislike?

It can be kind of clunky, and it's not always user friendly especially when you're just starting out.

What problems are you solving with the product? What benefits have you realized?

We use it to prepare federal and state income tax returns.

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Mid-Market
(51-200 employees)
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"OneSource is a great software but still needs improvement"

What do you like best?

I like how easy it is to navigate in the organizer of OneSource. I've been using this software for 3 years now.

What do you dislike?

I do not like how the hotline for support is lengthy on the more busier times when trying to clear diagnostics.

Recommendations to others considering the product:

Increase the support, add new functions that help tax prepares

What problems are you solving with the product? What benefits have you realized?

I am able to prepare returns with this software and it is a software that is easy to use.

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U
Small-Business
(11-50 employees)
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"Helpful organizer"

What do you like best?

This is a good source for organizing and maintaining multiple citation sources and then being able to update them across multiple platforms and workstations.

What do you dislike?

The speed of update sources can be slow depending on internet connection. If you are needing to make quick changes in a short period of time, this can be frustrating.

Recommendations to others considering the product:

This is a good platform to try. We use it in support of other Thomas Reuters services.

What problems are you solving with the product? What benefits have you realized?

We use these services for publication purposes and it is important to be able to share data across many people on the team.

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UA
Enterprise
(5001-10,000 employees)
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"Great Tax Software!"

What do you like best?

This product does exactly what its supposed to do. It allows accounts to complete tax returns the way they should be done in 2019. Technology is amazing.

What do you dislike?

During busy times the software can be a little slower.

What problems are you solving with the product? What benefits have you realized?

Allows the entire company to be able to see updated tax info in real time.

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"Great Tax Software"

What do you like best?

It’s straight forward and easy to learn. It has a lot of useful functions. I’m impressed.

What do you dislike?

It is a little bit expensive compared to other tax software.

What problems are you solving with the product? What benefits have you realized?

Tax returns will most like be in compliance with laws and regulations since it is properly maintained and updated. Very useful software

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U
Enterprise
(5001-10,000 employees)
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"Handy corporate tax tool "

What do you like best?

Software allows to consolidate all tax transactions to ensure alignment with global tax compliance process. The software is an ideal online tax solution for the complex corporate taxes.

What do you dislike?

No free trial and costly tool. However the features are top notch

Recommendations to others considering the product:

With the compliance and reporting tools, ONESOURCE helps to simplify your taxation process.

What problems are you solving with the product? What benefits have you realized?

all-in-one platform that is capable of addressing all taxes needs reliably. offers assistance at every step of the tax process

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UR
Enterprise
(10,001+ employees)
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"Thomas Reuter’s Onesource in a nutshell"

What do you like best?

The software gives you capability to combine different currencies and tax rates. It works well with medium to large businesses.

What do you dislike?

I would not recommend it for smaller businesses but it still can be a great alternative for Xero, quickbooks, or freshbooks

What problems are you solving with the product? What benefits have you realized?

It has made it much easier to track different currencies and tax rates because it is intergrated in one platform.

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CT
Enterprise
(10,001+ employees)
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"Great user experience tool"

What do you like best?

It's user friendly and a very good tool to be used by any type of business

What do you dislike?

There is nothing to be disliked about this tool

What problems are you solving with the product? What benefits have you realized?

It gives a consolidated data summary view where reporting has become very easy. Different sets of reports can be generated per business requirements

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U
Enterprise
(10,001+ employees)
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"Not the ideal software"

What do you like best?

My favorite feature was its user interface, a very seamless integration

What do you dislike?

I dislike how long it took to gather data, software has a lot bugs

What problems are you solving with the product? What benefits have you realized?

NA

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UA
Mid-Market
(51-200 employees)
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"Thomson Reuters ONESOURCE"

What do you like best?

I liked the reporting capabilities of ONESOURCE

What do you dislike?

I wish the analytics were more sophisticated

What problems are you solving with the product? What benefits have you realized?

Assistance with tax compliance

Thomson Reuters ONESOURCE User Ratings

7.9
Ease of Use
Average: 8.3*
6.9
Quality of Support
Average: 7.9*
5.8
Ease of Setup
Average: 7.7*
* Sales Tax Compliance Category
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Thomson Reuters ONESOURCE Categories on G2